Strike threat at Boeing plant escalates

* Boeing employees reject labor deal, authorize strike

* Shares rise 1.4 percent to $66.31

CHICAGO, June 14 (BestGrowthStock) – The threat of a work stoppage
at a Boeing Co (BA.N: ) plant in St. Louis has escalated after
workers rejected a contract proposal and authorized union
leaders to call a strike.

The vote on Sunday by the workers, who are represented by
the International Association of Machinists, sets the stage for
a strike that could begin as early as June 21.

The IAM represents about 2,500 employees in St. Louis,
where Boeing works on F/A-18E/F Super Hornets, EA-18G Growlers
and F-15 Strike Eagles. The union said the proposed contract
would exclude future union members from the defined pension
plan.

“The company thought you would sell out your future and you
said no,” IAM said in a note to members on its website. “Future
members of this community will look back with pride on your
courage this day.”

The union said it would ask Boeing to return to the
negotiating table. Boeing, however, has said its proposal is
fair and that the offer is final.

“We are disappointed the membership of IAM 837 has rejected
our contract proposal and has decided to strike,” Boeing said
in a statement. “The work we perform here in St. Louis is
critically important to our country and the men and women of
our armed services.”

Boeing has said it is preparing a contingency plan in case
of a strike. Its shares were up 1.4 percent, or 93 cents, at
$66.31 in midday trade on the New York Stock Exchange.

Stock Today

(Reporting by Kyle Peterson; editing by John Wallace)

Strike threat at Boeing plant escalates